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Gujarat High Court Quashes FIR in Bank Loan Fraud Case Due to Full Repayment and No Due Certificate. Court holds that continuation of criminal proceedings after full satisfaction of loan and issuance of No Due Certificate would be an abuse of process of law under Section 482 CrPC.

The applicant, Sanjay Jivrajbhai Satodiya, filed a criminal miscellaneous application under Section 482 of the Code of Criminal Procedure, 1973 before...

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Supreme Court Allows Bank's Appeal, Holds Borrower of Project Loan Not a Consumer Under Consumer Protection Act, 1986. Loan availed for commercial purpose of film post-production excludes company from consumer definition under Section 2(1)(d)(ii).

The Supreme Court considered two appeals arising from an order of the National Consumer Disputes Redressal Commission (NCDRC) dated 30.08.2023. The ap...

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Supreme Court Dismisses Appeal in Loan Interest Dispute: Borrower Bound by Adjustable Interest Agreement. Borrower’s claim of misrepresentation on interest rates by HDFC rejected as court upholds contractual obligations.

The Supreme Court dismissed the appellant’s claim regarding unfair trade practices in a home loan agreement. The court upheld the terms of the agree...

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High Court of Karnataka Upholds Acquittal in Negotiable Instruments Act Case — Complainant Fails to Prove Debt Legally Enforceable. Loan of Rs. 1,00,000 advanced by LIC agent to acquaintance not proved as legally recoverable debt under Section 138 of Negotiable Instruments Act, 1881.

The complainant-appellant, Sharanappa, filed a criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973, challenging the judgment ...

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Bombay High Court Upholds Compulsory Retirement of Bank Manager for Misconduct in Loan Sanctions. Disciplinary Proceedings Valid as Charges of Failing to Exercise Due Diligence and Integrity in Sanctioning Loans Were Established, and Penalty Not Disproportionate.

The petitioner, R.M. Yadav, was a Branch Manager at Bank of India's Agardanda branch. In 2003, disciplinary proceedings were initiated against him for...

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Bombay High Court Quashes Criminal Proceedings Against Directors and Officers in Cheque Dishonour Case Due to Absence of Specific Allegations. Vicarious Liability Under Section 138 of Negotiable Instruments Act, 1881 Requires Specific Averments of Role in Issuance of Cheque.

The petitioners, including M/s. GIC Housing Finance Ltd. and its directors/officers, filed a writ petition under Article 226 of the Constitution read ...